This week’s edition of RER Reports could possibly be nicknamed RER Results since third-quarter operating results of a plethora of rental companies and manufacturers dominate the headlines. For the most part, the news isn’t particularly upbeat and most companies expect some tough market conditions over the next year. Most companies have fared reasonably well for the first nine months of 2008, but we see a lot of companies — not all — downsizing to keep profits respectable: closing branches, reducing headcount, shutting down manufacturing plants or putting expansion efforts on hold.
However, if you get cross-eyed reading the numbers, there is some other news of interest this week. I also suggest you scroll down to “Interviews” and click on RER’s exclusive interview with new United Rentals CEO Michael Kneeland. A veteran of three decades in equipment rentals, Kneeland has a lot to say about what United Rentals is doing in response to the downturn, and remains very upbeat about the industry’s future.
Kneeland also shows a bit of his human side, talking about his management philosophy, literature that has inspired him (try a bio of Winston Churchill) and what it’s like to be a “soccer dad.” I know a bit about that subject myself, since my son is an energetic midfielder and I spend much of my weekend time at the soccer field, where, as Kneeland notes, there is much to learn about teamwork and life. I’m sure if you take the time, you’ll enjoy Kneeland’s thoughts.
